#CharlieMunger #Costco #DailyJournal
Daily Journal Chairman and Berkshire Hathaway Vice Chairman Charlie Munger discusses Costco’s operations and stock valuation.
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Will charlie personally be vetting the slave labor chains? Or relabeling the products as distributed by so the origin is unknown?
what are you on
@Edward Zhang truth serum
@ddkrew 1 You have unclear motives, and are rambling
Will you personally hand over your electronics to the slaves labor that built them and stop rambling?
Nice. I own costco shares. And I have 20 years or so. I will add more shares on pullbacks. Thx.
44 PE for a grocery store that doesn’t grow at all with no MOAT just be careful where you buy from bud
@Sam Ty doesnt grow at all? no moat? i hope you’re only being sarcastic
Costco is a Union company. That goes AGAINST Charlie Munger’s Capitalist values. Costco can’t fire the bad performing workers because of union rules. The union takes the union dues and does little for the good worker. Unions reward average or even sub-par performance, not Exceptional performance.
It’s not necessarily against his capitalist values. Some of the most profitable and industry leading companies understand that employee benefits and perks can add long-term value and give companies an edge in human capital (recruiting and retention, and arguably some intangible benefits like being recognized as one of the best places to work vs competitors). But yes, unions can also become bureaucratic and inefficient. I wouldn’t dismiss a company just based on whether they’re unionized, but thats just me. You’re obviously free to invest in whatever you want.
@Justin Im Buffet was heavily invested in Wells Fargo which was very against Buffet’s rules for ethical conduct of management. Buffet recently sold all of his (or BRK’s) Wells Fargo investments.. although Buffet seemed to wait until he made a huge return from the cyclical run-up. The point is.. sure Munger says Costco is great but it is against a significant ‘rule’ of his values and therefore how soon until he dumps it (without mentioning it, since he isn’t giving direct advice to investors anyways)?
@superblonde That seems to be a bit narrow minded. I think you’re giving out bad investment advice.
@Justin Im Agreed
@Denny Keaton go talk to someone on the ground i.e. someone that worked at Costco.. someone with higher than average IQ.
Boxed will go out of business now 😅
Simply dont buy stock upon others advice!
He’s a hodler in his own ways
This was terrible advice, this man sadly is living is yesteryear, all those big stores will die and companies that use the Amazon model and embrace crypto is the future, electric vehicles and delivery. He just past his time
12 billion in cash and all time high ttm revenue + net income say hi
Sir congratulations
admirable this that….hypocrite buying chinese stocks and knowing the dollar is devaluing.
wtf does that mean..costco titan on the internet…ecommerce is old news bro and i think you missed all the internet stocks last 20 years…so dont say that
We shop at a Costco store. Their website is one of the least user-friendly of any retailer.
Obviously Charlie had not bought tires from Costco on the internet yet. I bought 4 tires online to be installed at my local Costco Tires Center. After almost a month, my online order status was updated to say all 4 tired were delivered to the Tires Center by Fedex. I booked appointed to have the tires installed. I went to the Tires Center on the scheduled date, to my surprise, I found out that the Tires Center only had received 2 tires. But yet, my online order status showed ALL 4 were delivered. Costco still can’t handle ecommerce yet !!
I like Munger. He doesn’t have the filter on everyone else does.
Here you have a billionaire buying shirts and pants for $7 each.
He probably split a tuna sandwich from 7/11 with his buddy Warren that day.
Costco v Amazon? I would pay to see that, and guess what, whether I like it or not, at some point, I will.
Is there room for Costco in the streets already crowded with smiley trucks? I don’t think so. Costco is a big box store, that’s what they do best. Online is not their thing.
44 PE for a grocery store that doesn’t grow at all with no MOAT lmao Charlie be smart just once
Munger is past his sell by date! Costco trades at 44X earnings, it should be less than X20.